Commonwealth Numbered Acts

COMPANIES ACT 1981 No. 89 of 1981 - SECT 476

476. The acceptance of a share in a no liability company, whether by original
allotment or by transfer, does not constitute a contract on the part of the
person accepting it to pay any calls in respect of the share or any
contribution to the debts and liabilities of the company and such a person is
not liable to be sued for any calls or contributions but he is not entitled to
a dividend upon any such share upon which a call is due and unpaid.